Barclays Reiterates Equal Weight Rating for Public Storage (NYSE:PSA)

Public Storage (NYSE:PSA)‘s stock had its “equal weight” rating reaffirmed by analysts at Barclays in a note issued to investors on Friday,Benzinga reports. They currently have a $349.00 target price on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 9.35% from the stock’s previous close.

PSA has been the subject of several other research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $341.00 target price on shares of Public Storage in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Citigroup boosted their target price on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Truist Financial upped their target price on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, Evercore set a $316.00 target price on shares of Public Storage in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $324.74.

Public Storage Stock Down 0.5%

PSA opened at $319.15 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The firm’s fifty day moving average is $312.38 and its 200 day moving average is $295.69. The stock has a market cap of $56.03 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 4.31 and a beta of 0.96.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts forecast that Public Storage will post 16.94 earnings per share for the current fiscal year.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 11.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bayban bought a new stake in Public Storage during the fourth quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Public Storage in the 3rd quarter valued at approximately $27,000. Wealth Watch Advisors INC bought a new stake in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Raiffeisen Bank International AG boosted its holdings in shares of Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares during the period. Finally, Knuff & Co LLC purchased a new position in shares of Public Storage in the 4th quarter worth approximately $38,000. Institutional investors own 78.79% of the company’s stock.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.